On This Day: President Obama greets people following his remarks at the Ford Motor Company Chicago Assembly Plant in Chicago, Ill., Aug. 5, 2010 (Photo by Pete Souza)

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Today (all times Eastern)

12:30: White House press briefing

1:45: VP Biden Delivers Remarks at U.S.-Africa Business Forum

2:45: President Obama delivers remarks and participates in the U.S.-Africa Business Forum

9:30: The President and First Lady host a dinner at the White House for African heads of state – Lionel Richie performs

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President Obama meets with advisors in the Roosevelt Room of the White House, Aug. 4, 2014 (Photo by Pete Souza)

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The Week Ahead

Wednesday: The President participates in Summit Leader Meetings as part of the U.S.-Africa Leaders Summit.

First Lady Michelle Obama, in partnership with former First Lady Laura Bush and the Bush Institute, will host a day-long spouses symposium at the Kennedy Center focused on the impact of investments in education, health, and public-private partnerships.

Live Streaming from the U.S. – Africa Leaders Summit

President Barack Obama is announcing $14 billion in commitments by U.S. businesses to invest in the continent of Africa.

Obama plans to make the announcement Tuesday at the U.S.-Africa Business Forum in Washington. The forum is bringing together African heads of state and American business leaders to find ways to boost economic ties. It comes on the second day of a U.S.-Africa summit involving nearly 50 African heads of state.

The White House says the investments include industries like construction, banking, information technology and energy.

On August 6, 2014, the Office of First Lady Michelle Obama, the George W. Bush Institute, and the U.S. Department of State will host Investing in Our Future at the U.S. – Africa Leaders Summit.

The day-long symposium will bring together First Lady Michelle Obama, Mrs. Laura Bush, African first spouses from nearly 30 countries, leaders from non-governmental and non-profit organizations, private sector partners, and other leading experts.

The symposium will highlight the important role first spouses play and will focus on the impact of investments in education, health, and economic development through public-private partnerships. This collaboration builds on the Bush Institute’s 2013 African First Ladies Summit, Investing in Women: Strengthening Africa, held in Tanzania.

Although the enemies of health reform will never admit it, the Affordable Care Act is looking more and more like a big success. Costs are coming in below predictions, while the number of uninsured Americans is dropping fast, especially in states that haven’t tried to sabotage the program. Obamacare is working. But what about the administration’s other big push, financial reform? The Dodd-Frank reform bill has, if anything, received even worse press than Obamacare, derided by the right as anti-business and by the left as hopelessly inadequate. But also like Obamacare, financial reform is working a lot better than anyone listening to the news media would imagine. The decision to create a Consumer Financial Protection Bureau shouldn’t have been controversial, given what happened during the housing boom.

At this point, however, all accounts indicate that the bureau is in fact doing its job, and well — well enough to inspire continuing fury among bankers and their political allies. A recent case in point: The bureau is cracking down on billions in excessive overdraft fees. how do you rescue the banking system without rewarding bad behavior? The answer is that the government should seize troubled institutions when it bails them out, so that they can be kept running without rewarding stockholders or bondholders who don’t need rescue. In 2008 and 2009, however, it wasn’t clear that the Treasury Department had the necessary legal authority to do that. So Dodd-Frank filled that gap, giving regulators Ordinary Liquidation Authority, also known as resolution authority, so that in the next crisis we can save “systemically important” banks and other institutions without bailing out the bankers.

Israel and Hamas began observing a temporary cease-fire on Tuesday that sets the stage for talks in Egypt on a broader deal on the Gaza Strip, including a sustainable truce and the rebuilding of the battered, blockaded coastal territory.

Israel withdrew its ground forces from Gaza’s border areas, and both sides halted cross-border attacks as the three-day truce took effect at 8 a.m. (0500 GMT) Tuesday. The shelling stopped and in Gaza City, where streets had been deserted during the war, traffic picked up and shops started opening doors.

If the calm holds, it would be the longest lull in almost a month of fighting that has killed nearly 1,900 Palestinians and 67 Israelis.

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For the last two hours we’ve heard nothing but sonic booms and the sound of rockets and mortars. Shells have fallen on our street a few hundred yards from my father-in-law’s house, where my wife and I, and our five kids, are staying, and on the street behind us.

My wife, Hanna, is arguing with the kids over what to buy to celebrate Eid, the holiday that marks the end of Ramadan. She has forbidden them to go to the grocery store, and she’s adamant that they won’t visit the Internet cafes or the PlayStation shop near my father’s place. They don’t understand the impossibility of shopping at a time of war.

Last night, we all became convinced that the tank fire would soon reach the Jabaliya refugee settlement, where our families live. All night long the tanks fired on the eastern side of the camp. The buildings on our street creaked and lurched, as if about to fall. Everything shifts with each strike. It’s as if you’re an extra in a disaster movie.

The World Bank has announced that it is allocating $200m (£120m) in emergency assistance for West African countries battling to contain the Ebola outbreak. The money will be distributed to the governments of Liberia, Sierra Leone and Guinea as well as to the World Health Organization (WHO). The number of people killed in the outbreak has reached 887, the WHO says.

The World Bank’s announcement came as African leaders including 35 presidents discuss the crisis in Washington. World Bank President Jim Yong Kim – an expert on infectious diseases – said that he was “deeply saddened” by the spread of the virus and how it was contributing to the breakdown of “already weak health systems in the three countries”.

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Watch Rand Paul run away from a DREAMer who confronts him and Steve King:

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If you want to do something politically dangerous in Washington that you’d just as soon not draw widespread notice, doing it late on a Friday night before the August Congressional Recess begins is about as good as it gets. And that’s exactly what House Republicans did on Friday night, passing an insultingly small “border resources” package that will vanish without a trace if and when Congress returns and gets serious about the issue, and then passing another bill prohibiting continuation of the Deferred Actions for Childhood Arrivals program, which has enabled children and young adults (usually collectively known as DREAMers) under strict conditions to avoid deportations.

When I looked at the news aggregators this morning, there was zippo about this whole topic, which dominated political chatter last week. It’s as though quite literally nothing of interest happened Friday night.

The Obama administration took a “historic” step in changing the drug war Friday, activists said, when Attorney General Eric Holder said the rationale prosecutors often use to defend mandatory-minimum sentences was worthless. “Some have suggested that these modest changes might somehow undermine the ability of law enforcement and prosecutors to induce cooperation from defendants in federal drug cases,” Holder said in remarks before the National Association of Criminal Defense Lawyers conference in Philadelphia, according to prepared remarks posted to the Justice Department website.

“But the reality is that nothing could be further from the truth,” Holder went on, citing his own past as a federal prosecutor. “Like anyone who served as a prosecutor in the days before sentencing guidelines existed and mandatory minimums took effect, I know from experience that defendant cooperation depends on the certainty of swift and fair punishment, not on the disproportionate length of a mandatory-minimum sentence,” Holder said. The speech was a big deal, said Families Against Mandatory Minimums. Price’s spokesperson, Mike Riggs, was more direct. “It’s pretty damn historic,” he said.

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March 30, 2011: President Obama greets James Brady in Press Secretary Jay Carney’s West Wing office at the White House. Brady’s wife Sarah, right, and son Scott, center, joined him for the meeting (Photo by Pete Souza)

Michelle and I send our deepest condolences to the family of former White House Press Secretary James Brady on his passing. Jim is a legend at the White House for his warmth and professionalism as press secretary for President Reagan; for the strength he brought to bear in recovering from the shooting that nearly killed him 33 years ago; and for turning the events of that terrible afternoon into a remarkable legacy of service through the Brady Campaign to Prevent Gun Violence. Since 1993, the law that bears Jim’s name has kept guns out of the hands of dangerous individuals. An untold number of people are alive today who otherwise wouldn’t be, thanks to Jim.

Every day, reporters and White House staffers walk past a plaque marking the day in 2000 that the White House Briefing Room was renamed the James S. Brady Press Briefing Room. It reads, “May his courage and dedication continue to inspire all who work in this room and beyond.” Those words will endure, as will his legacy. Our thoughts and prayers are with Jim’s wife Sarah, who has been Jim’s steadfast partner in advocacy, and their children Scott and Melissa.

I’m still laughing:

On This Day

President Obama waits to be introduced at a luncheon for U.S. Senate candidate Alexi Giannoulias of Illinois at the Palmer House Hilton in Chicago, Ill., Aug. 5, 2010. Right to left, Trip Coordinator Jordan Whichard, Bobby Schmuck, political affairs staff assistant, and Director of Political Affairs Patrick Gaspard, wait with the President (Photo by Pete Souza)

President Obama talks on the phone at the Palmer House Hilton in Chicago, Ill., Aug. 5, 2010. From left, Chief of Staff Rahm Emanuel, Eric Whitaker and Senior Advisor Valerie Jarrett work nearby (Photo by Pete Souza)

President Obama signs memorabilia as he talks on the phone at the Chicago Cultural Center in Chicago, Ill., Aug. 5, 2010 (Photo by Pete Souza)

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President Obama arrives at the White House after spending the night at Camp David on Sunday, August 5, 2012 in Washington, DC.

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President Obama meets with former Negro League baseball players in the Cross Hall of the White House, Aug. 5, 2013 (Photo by Pete Souza)

Charles P. Pierce (Esquire): Why Does Everybody Hate Mitt? …. I’ve cast my memory back as far as I can, and I cannot recall a major politician of either party who causes so many members of his party to spit (metaphorically, one hopes) at the simple mention of his name. And this is not a recent phenomenon. One of the few insights worthy of anyone’s time in that horrible Game Change book was the fact that, by the end of the 2008 presidential cycle, all of the other Republican candidates had come to despise Willard. (John McCain was apoplectic on the subject, even by McCain’s standards, which are considerable.) This now has seemed to transfer itself to the Republican electorate in general. Nobody likes this guy…..

On the surface, this elemental loathing seems disproportionate, even if you take into account how much of the GOP’s Jesus-jammin’ base distrusts the extended coven into which Romney was born …. Willard is something of a foof who spends all his time falling a few yards short of sincerity. He speaks a form of trust-fund English that can be off-putting. He is as utterly unprincipled as a politician can be, and he’s about as trustworthy as a puff adder… all Romney’s done is change his position on a whole host of issues, and talk like the guy who’s come to repossess the family farm…..

President Obama, flanked by European Commission President Jose Manuel Barroso and European Council President Herman Van Rompuy, in the Roosevelt Room, Nov 28

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WH: Over the weekend, a report by the Associated Press detailed how the Affordable Care Act is dramatically reducing drug costs for seniors who hit the prescription drug coverage gap known as the donut hole. This year, seniors are benefiting from a 50 percent discount on brand-name drugs in the donut hole. And the discount and other provisions in the law are saving money for seniors. As the AP reported:

The average beneficiary who falls into the coverage gap would have spent $1,504 this year on prescriptions. But thanks to discounts and other provisions in President Barack Obama’s health care overhaul law, that cost fell to $901…

…. Thanks to the Affordable Care Act, seniors will receive bigger discounts in the years ahead. By 2020, the donut hole will be closed completely.

And even if you don’t hit the donut hole, there’s still good news for beneficiaries with Medicare Part D. Prescription drug premiums will not rise next year, and thanks to health reform, seniors can get preventive services like mammograms and other cancer screenings for free.

MSNBC: NBC News has confirmed that one woman received a settlement from the National Restaurant Association after complaining about inappropriate sexual conduct by Herman Cain.

NBC News is not disclosing the name of the woman nor characterizing who she is. Cain denied the allegations, saying on FOX this morning he was “falsely accused.” “I have never sexually harassed anyone, anyone,” he said, “and absolutely, these are false accusations.”

Despite being the chief executive officer of the National Restaurant Association, he said he was unaware of any settlement with the accusers, though he didn’t deny it. “If the restaurant association did a settlement, I wasn’t even aware of it,” he claimed, “and I hope it wasn’t for much. If there was a settlement, it was handled by some of the other officers at the restaurant association.”

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TPM: On Fox News this afternoon, Herman Cain dismissed the Politico story dogging his campaign this week in the strongest possible terms. There’s only one problem with his story of how the Politico piece came to be: his chief of staff blew a large hole in it already.

On Fox, Cain said that Politico came to him with two anonymous tales of sexual harassment settlements reached while he was the head of the National Restaurant Association. And that’s why he didn’t respond to Politico’s request for comment.

….. That line of reasoning is fine, as far as it goes, except Cain neglected to mention one thing …. his Chief of Staff and famous smoker Mark Block confirmed to TPM that Politico’s reporting of the events was accurate.

…. So Cain’s strong words to Fox are already being found to be less-than-true. That’s not a good sign for a campaign trying to put a tough story behind it.

As you regulars know, I’ve been stamping my feet for some time now about big news orgs that amplify the GOP’s claim to having a “jobs plan” without asking independent experts whether Republican fiscal prescriptions would actually … create jobs.

So kudos to the Associated Press for weighing in with a bracing analysis that calls BS on the GOP’s ideas for job creation, though this one is focused on the 2012 GOP presidential candidates:

Key proposals from the Republican presidential candidates might make for good campaign fodder. But independent analyses raise serious questions about those plans and their ability to cure the nation’s ills in two vital areas, the economy and housing.….

Daniel Bice (JS Online): Herman Cain’s two top campaign aides ran a private Wisconsin-based corporation that helped the GOP presidential candidate get his fledgling campaign off the ground by originally footing the bill for tens of thousands of dollars in expenses ….. something that might breach federal tax and campaign law, according to sources and documents.

….. Election law experts say the transactions raise a host of questions for the private organization, which billed itself as a tax-exempt nonprofit, and the Cain team. “If the records accurately reflect what occurred, this is way out of bounds,” said a Washington, D.C.-based election lawyer….

Steve Benen: This looks awfully bad for Team Cain. The report points to evidence that two of Cain’s top aides set up a now-defunct non-profit entity that illegally financed the campaign, effectively helping it get off the ground. There’s nothing in FEC filings to suggest the campaign ever paid Prosperity USA back for the substantial funds it spent on Cain’s behalf.